SEC Strengthens Review of SPVs, Requires Proof of Asset Authenticity
The U.S. Securities and Exchange Commission (SEC) has intensified its scrutiny of the companies behind special purpose vehicles (SPVs), requiring registered investment advisors to provide evidence that their SPVs own or hold the claimed shares of private companies. This move comes amid increased marketing efforts by some funds and rising investor complaints ahead of the planned IPOs of SpaceX and Anthropic. The SEC's review typically includes document requests, and some reviews may also involve on-site interviews, with the process potentially lasting from several weeks to a year.
-- Price
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